Senior Analyst @ Lyft
March 2020 - July 2020-
Lyft is an American transport service support provider that develops, markets, and operates a mobile app, offering ride-hailing, vehicles for hire, motorized scooters, a bicycle-sharing system, and rental cars. It is based in San Francisco, California and operates in 645 cities in the United States and 10 cities in Canada. Lyft is currently the second largest ride-hailing service in the USA with over 30% domestic market share and is valued at over $6 billion as of May 2022.
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As a Senior Analyst on the International Expansion and New Markets team, I worked closely with Lyft leadership to define and execute on an international expansion strategy. This included but was not limited to the following:
› Creating complex matrices to help prioritize new cities for launch
› Assembling memos and powerpoints to be presented to the CEO & COO
› Working with Public Policy teams and government agencies prior to launch
› Building revenue models & launch budgets for international expansion
› Conducting competitive analysis and developing launch strategy
› Syncing with cross-functional teams and advisory groups across the globe
› Overseeing M&A due diligence for potential international acquisitions
Selected Projects
International Expansion
International Expansion
Prior to the Covid-19 pandemic, Lyft was planning a full-fledged international expansion initiative across multiple geographies. I joined Lyft right before the onset of the pandemic, having left my job at Munchery/Hatched Labs as a Product Manager to try my hand at some international strategy work. The international team consisted of 5 people and was responsible for all facets of expansion, including market research, financial analysis, government liaison, pricing strategy, launch management, and more. We were responsible for an 8-figure yearly budget to spearhead Lyft’s expansion and manage every facet of the launch cycle.
Market Research
I was responsible for conducting all market research and presenting recommendations to the team. At first, I helped develop a city matrix which used weighted scores to rank cities based on a number of criteria. Once primary launch cities were established, I developed extensive research decks which analyzed every aspect of each new market. I helped dictate launch strategy by looking at population data, local user behavior, top user personas & driver profiles, smartphone penetration, digital wallet usage, disposable income, places of interest, public transportation, competitive landscape, congestion patterns, government regulations, local politicians, partnership opportunities, key stakeholders, and more.
Financial Analysis
The second phase of the launch process involved developing complex financial models to forecast new city revenues and expenditures. I helped build granular revenue models that examined each component of market entry, ultimately determining required budget and helping shape Lyft’s global P&L. These analyses took into consideration every possible aspect of a new city launch, from macro factors such as city mobility statistics, public transportation usage, smartphone penetration, and weather fluctuations to micro factors such as driver P3 utilization, CAC per acquisition channel, municipal taxes, and credit card fees. Local work commenced once each top market was analyzed and a financial course of action was established.
Government Relations
Given Lyft’s size and stature, it was crucial to establish healthy relationships with federal and local authorities prior to launch. This was usually done through third-party consulting firms that would facilitate introductions to high-ranking government officials. Countless meetings were held over the course of months to alert governments that Lyft was planning on entering a certain market and on developing a good working relationship with important stakeholders. Working in tandem with our Public Relations team also proved to be important in setting the stage for any new market entry.
Launch
Once the preliminary work was done, it was time to launch. Unfortunately, many of our large-scale launches were canceled as a result of COVID-19, but we were still able to set the groundwork for any potential future endeavors. Launch work was primarily operational and done on the ground in any new market. This involved finding office space, hiring a local team, and onboarding supply. Since assuring supply was the most important part of any operation, most of the work revolved around establish a solid foundation of drivers before moving on to user acquisition initiatives. Clandestine work was done to gather information on drivers, their experience with competitors (if applicable), and to ensure that Lyft was able to provide an enticing package in order to retain them. Senior members of the team spent much of their time traveling between launch countries.